AUD/USD breaks above 0.7660, hits 3-day highs

AUD/USD gained momentum and extended gains. The pair broke above 0.7660 and reached a 3-day high at 0.7672. Price remains near the highs holding a bullish tone. 

Today the pair is rising almost 50 pips. It gained ground during the Asian session after Chinese trade data and recently amid risk appetite. Equity indexes in Wall Street hit record highs and the US dollar pulled back against commodity currencies. The US dollar is posting mix results: it remains strong versus its European rivals but it is losing against the Loonie and the Aussie. 

Gold bounced during the last hours and now is trimming part of yesterday’s losses. Recently, the value of the ounce rose back above $1230, helping the AUD/USD.

Technical levels

To the upside, resistance levels might be seen at 0.7695 (Feb 2 & 3 high), 0.7730/35 (Oct high) and 0.7755. On the flip side, support could be located at 0.7655 (Asian session high), 0.7630/35 (European session low) and 0.7615 (daily low).